Hello and welcome to this episode of the ESG Fitness podcast. Today, I am going to talk about

how to use the cost-benefit principle or calculation to make better decisions in your life

and to avoid regret. This is how I make all decisions, which is going to make me seem like such a geek, but that's

probably factually correct. So I'm just going to embrace that. Making decisions is hard, and we use

slash waste a lot of time thinking about making decisions. And the reason I think we spend so long

making decisions is usually fear of regret from making the wrong decision. And I actually really

like the saying even the wrong decision is better than no decision. So being stuck in that like no man's land or being extremely

indecisive is the worst place to be. You will spend far too long there procrastinating, trying to make a

decision when the best thing to do is to make a decision, embrace it, don't look back. If it was the

quote-unquote wrong decision, you'll likely learn something. And if it wasn't, then you're

much further on your way than if you'd spent ages constantly overthinking the same decision.

Using this principle to make decisions

will make the process of making decisions

much smoother, much easier

and I found that it avoids regret

and I think regret is like the worst feeling ever.

So I stole this calculation or people call it

a principle or calculation. It's an economics principle, but it can be applied to basically

any decision that you're making. So people will use it to make business decisions, but it can really,

like it's actually a really useful and quite rational way of making any decisions, especially

decisions that are quite emotive because it takes some of the emotion away from that.

So I use the cost benefit equation to decide whether something is actually worth doing.

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